Social Risk Mitigation Project (SRMP)

closed

The Social Risk Mitigation Loan Project will alleviate the impact of the recent economic crisis on poor households, and improve their capacity to withstand such risks in the future. The components will achieve this through: 1) an adjustment portion, as a rapid relief response to vulnerable groups through existing channels. Financing will be available for public, and private sector import requirements of the balance of payments against a negative list, and, the Government will make use of the Turkish Lira counterpart loan funds, to finance priority actions for immediate relief. Disbursements for assistance programs include school materials, and textbooks; pharmaceuticals, and medical supplies; and, expansion of social assistance programs. The component's tranche release will be conditional to a satisfactory macroeconomic framework, and program progress as defined in the Letter of Sector Policy; 2) an investment portion to build institutional capacity of the government agencies providing coverage, and targeting social safety nets for the poor. This includes policy research, monitoring and evaluation, information technology development, and staff development, and training; 3) conditional cash transfers (grants), to finance an expanded social safety net, targeted to the poorest six percent families with children, with the proviso of positive family behavioral change with respect to education, and health; and, 4) local initiatives, by strengthening, and financing key programs proposed by the provinces, and local communities, to enhance employment opportunities aimed at poverty mitigation. Such programs are income-generating sub-projects, supported by technical assistance, employment training, adult literacy, and small business practices.